Leon Harris
The Israeli Supreme Court, sitting as the High Court of Justice (Bagatz), issued a landmark decision on August 6 cancelling the controversial new multi home tax (Bagatz 10042/16 et al).
This was for procedural reasons due to a serious defect in the way the tax was hastily enacted as part ... Read More
Category: General Tax
19
Jul2017
The recent G20 summit in Hamburg last weekend wasn’t only about North Korea and Syria. The G20 also reaffirmed their commitment to create a globally fair modern international tax system.
A report by the OECD to the G20 leaders before the summit sheds light on which companies with international operations are more ... Read More
July 19, 2017Leon Harris
19
Jul2017
The Israeli Tax Authority (ITA) published on May 22 a backdated Circular on the implementation of Israel’s FATCA Agreement with the United States of America (Circular 3/2017 dated February 12, 2017).
What is FATCA all about?
Briefly, the US Congress enacted the Foreign Account Tax Compliance Act (FATCA) in 2010 requiring non-US account information ... Read More
July 19, 2017Leon Harris
19
Jul2017
If you buy the shares of an Israeli hitech company and think you are buying the technology too, think again. The Israeli merger and acquisition (M&A) scene just took a turn for the worse.
An Israeli Court has ruled that double Israeli tax applies if a purchaser buys all the shares ... Read More
July 19, 2017Leon Harris
19
Jul2017
The world’s tax treaties have just undergone instant plastic surgery. Unfortunately, they aren’t as pretty as they used to be. One of the surgeons in attendance was the Israeli finance minister, Moshe Kahlon.
It all happened on June 7 in Paris, when the OECD held a grand signing ceremony fora new ... Read More
July 19, 2017Leon Harris
08
Jun2017
Once upon a time in Never Land, a high tax country, Old Macdonald Inc. (OMI) hit upon a way of converting carrots into 24 carat pure gold at minimal cost. Unable to believe its good fortune, OMI licenses this knowhow to its subsidiary company OMI Offshore Ltd in Utopia, an ... Read More
June 8, 2017Leon Harris
06
Apr2017
In most countries, taxpayers know when is their deadline for filing tax returns. Not in Israel.
Monthly Reporting Deadlines:
Accountancy circles have recently been buzzing with excitement and trepidation. Most businesses are required to file monthly/bimonthly tax and VAT returns by the 15th day after the end of each month or bimonthly ... Read More
April 6, 2017Leon Harris
22
Mar2017
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March 22, 2017Leon Harris
22
Mar2017
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March 22, 2017Leon Harris
26
Feb2017
They say confession is good for the soul. It is also good for the Treasury. Israeli tax law now requires disclosure of reportable actions, reportable opinions and reportable positions to the Israeli Tax Authority.
On December 26, 2016 the Israeli Tax Authority (ITA) published the first batch of reportable positions – ... Read More
February 26, 2017Leon Harris